Nick Devane, the CEO of PilotWorks, a co-working space and commercial kitchen rental company that caters to food entrepreneurs and startups, learned first hand how to evaluate risks and through his experience, developed his own strategies for risk-taking.

Before becoming a co-working space, Devane's company was bootstrapping its way to becoming a peer-to-peer software marketplace. However, when that didn’t work out, his team took a risk, which entirely changed the company's trajectory. How did Devane decide to take this leap? He looked at the data and talked to team members and customers to get feedback.